Blackbaud INC 8-K filings

Blackbaud has terminated its stockholder rights plan, accelerating the expiration of its preferred share purchase rights effective March 18, 2024.

Blackbaud plans to repurchase 7% to 10% of its outstanding common stock and has entered into an accelerated share repurchase agreement for $200 million.

Blackbaud's CEO, Michael Gianoni, was cited for driving under the influence and is contesting the charges, while continuing in his role as directed by the Board.

Blackbaud's 2023 financial results met or exceeded guidance, driven by a five-point operating plan and leading to a refreshed capital allocation strategy.

Blackbaud has reached a settlement with the U.S. Federal Trade Commission (FTC) regarding a 2020 security incident, agreeing to specific conditions without admitting or denying the allegations, and incurring no financial penalty.

Blackbaud has appointed Broadridge Corporate Issuer Solutions as its new Rights Agent, replacing Equiniti Trust Company, and amended its Stockholder Rights Agreement accordingly.

Blackbaud's board of directors has reauthorized and expanded its stock repurchase program to $500 million, demonstrating confidence in the company's cash flow and commitment to shareholder value.

Blackbaud has appointed Kristian Talvitie, the current CFO of PTC Inc., to its board of directors, increasing the board size to nine members.